by KLPCPA | Nov 11, 2019 | Small Business, Taxes
Call Now Setup an Appointment One of the most laborious tasks for small businesses is managing payroll. But it’s critical that you not only withhold the right amount of taxes from employees’ paychecks but also that you pay them over to the federal government on time....
by KLPCPA | Sep 30, 2019 | IRS, Small Business
Call Now Setup an Appointment Many business owners ask: How can I avoid an IRS audit? The good news is that the odds against being audited are in your favor. In fiscal year 2018, the IRS audited approximately 0.6% of individuals. Businesses, large corporations, and...
by KLPCPA | Aug 19, 2019 | Small Business, Taxes
Call Now Setup an Appointment Operating a business as an S corporation may provide many advantages, including limited liability for owners and no double taxation (at least at the federal level). Self-employed people may also be able to lower their exposure to Social...
by KLPCPA | Aug 13, 2019 | IRS
Call Now Setup an Appointment In the past few months, many businesses and employers nationwide have received “no-match” letters from the Social Security Administration (SSA). The purpose of these letters is to alert employers if there’s a discrepancy between the...
by KLPCPA | Jul 29, 2019 | Small Business, Taxes
Call Now Setup an Appointment Working from home has its perks. Not only can you skip the commute, but you also might be eligible to deduct home office expenses on your tax return. Deductions for these expenses can save you a bundle if you meet the tax law...
by KLPCPA | May 30, 2019 | Small Business, Taxes
Call Now Setup an Appointment Summer is just around the corner, so you might be thinking about getting some vacation time. If you’re self-employed or a business owner, you have a golden opportunity to combine a business trip with a few extra days of vacation and...
by KLPCPA | May 13, 2019 | Retirement, Small Business
Call Now Setup an Appointment Roth 401(k) accounts have been around for 13 years now. Studies show that more employers are offering them each year. A recent study by the Plan Sponsor Council of America (PSCA) found that Roth 401(k)s are now available at 70% of...
by KLPCPA | May 9, 2019 | Small Business, Taxes
Call Now Setup an Appointment If you read the Internal Revenue Code (and you probably don’t want to!), you may be surprised to find that most business deductions aren’t specifically listed. It doesn’t explicitly state that you can deduct office supplies and certain...
by KLPCPA | Apr 23, 2019 | Small Business, Taxes
Call Now Setup an Appointment Have you recently started a new business? Or are you contemplating starting one? Launching a new venture is a hectic, exciting time. And as you know, before you even open the doors, you generally have to spend a lot of money. You may have...
by KLPCPA | Apr 11, 2019 | Small Business, Taxes
Call Now Setup an Appointment If you’re getting a divorce, you know it’s a highly stressful time. But if you’re a business owner, tax issues can complicate matters even more. Your business ownership interest is one of your biggest personal assets and your marital...
